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Explosive Back Breaking News

by Tom Heneghan
International Intelligence Expert

UNITED STATES of America　 -　 It can now be reported that TRILLIONS of U.S. dollar denominated subprime mortgage derivatives aka financial weapons of mass destruction (FWMD) remain on the books of five major U.S. banking institutions.

These contractual derivatives have to be paid out by the end of 2009 to the counter parties in the United States, Great Britain and Germany.

Note: These subprime mortgage derivatives are tied to real estate holdings, which are based on the appraisal of property that has lost over 100% of its value over the last three years.

The banks in question holding these derivatives including J. P. Morgan Chase, the New York Mellon Bank, along with the Barclays Bank in the United Kingdom and the noted Deutsche Bank in Germany, are in no position to pay off these derivative contracts and, accordingly, face collapse.

Reference: The now bankrupt U.S. Treasury, along with the Federal Reserve itself, is in no position to do another 'bail out'.

And, of course, it gets worse!

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